David Friedberg: The Hidden Debt Crisis That Could Tank the Dollar

If the Democrats win the midterms and you end up with a Democrat in the White House in 2028, I think that there's a bigger problem at foot, which is all of the state and local obligations. We've talked about Social Security looks like it's going to run out of money in a few years here. And there's a similar problem at the state and local level.you'll very likely see a federalization of that obligation, meaning that the federal government will step in to bail out or support those state and local governments ...